Without Some Correction,sample Variability Is Said to Be "Biased

question 1

Essay

Without some correction,sample variability is said to be "biased." Define the term biased,and explain how this bias is corrected in the formula for sample variance.​

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Definitions:

Income Tax Liability

The amount of tax that an individual or corporation owes to the government based on their income earnings for the fiscal year.

Deferred Tax Liability

A tax obligation that a company owes but is not yet required to pay, resulting from temporary differences between the company's accounting and tax treatment of assets and liabilities.

Revenue

The total income generated by a company from its normal business operations.

Taxable

Pertaining to income or transactions subject to tax by governmental authorities.